Beef Update
IFA Livestock Chairman Declan Hanrahan said strong market demand for beef sees prices remain firm but more is needed from the market. He said EU young bull prices have strengthened and when combined with the UK price the Bord Bia Prime export benchmark price has opened a gap of 12c/kg with the Prime Irish composite price. He said despite the upward movement in price over the past fortnight the increases are not keeping pace with prices in our key markets and these must move on further and faster. This week steers are making from €5.05kg to €5.15kg and heifers €5.10kg to €5.20kg. Young bulls R/u grades are ranging from €5.10kg to €5.30kg. Cull cows are making from €4.30kg to €4.90kg depending on the grade. Declan Hanrahan said factories must do more on beef price and reflect the realities of the market conditions we are selling into.
Beef Price Update 06/09/2024
Base Quotes Steer €5.05/5.15kg. Heifers €5.10/5.20kg. Higher deals and flat prices for larger and specialist lots. Y Bulls R/U €5.10/5.30Kg. Cows €4.30/4.90kg.
Supply Figures as Reported by DAFM – WK 35 (01.09.2024)
| Animal | Number | Change prev wk | % of total | YTD | YTD Change |
| Y Bulls | 923 | ▼-210 | 3% | 78,960 | ▼-6,849 |
| Bull | 591 | ▼-91 | 2% | 20,416 | ▲619 |
| Steer | 161,21 | ▲956 | 46% | 427,813 | ▼-14,264 |
| Cow | 7,748 | ▲446 | 22% | 288,571 | ▲27,204 |
| Heifer | 9,498 | ▲757 | 27% | 332,306 | ▲7,462 |
| Veal-V | 237 | ▲216 | 1% | 19,968 | ▼-10,529 |
| Veal-Z | 27 | ▲13 | 0% | 1,359 | ▲154 |
| Total | 35145 | ▲2,087 | 100% | 1169393 | ▲3,665 |
Official Irish Prices as Reported by DAFM – WK 35 (01.09.2024)
| c/kg (Incl. VAT) | U3 | Change prev wk | R3 | Change prev wk | O3 | Change prev wk | P+3 | Change prev wk |
| Steers | 540 | ▲0 | 530 | ▲1 | 517 | ▲1 | 487 | ▲1 |
| Heifers | 545 | ▲0 | 535 | ▲2 | 525 | ▲2 | 479 | ▼-1 |
| Y Bulls | 533 | ▲1 | 523 | ▲1 | 509 | ▲3 | 502 | ▲4 |
| Cows | 0 | ▲0 | 487 | ▼-2 | 456 | ▼-1 | 442 | ▲2 |
Official GB Prices as Reported by AHDB
| Steers | Steers | Heifers | Heifers | Y bull | Y bull | Cow | |
| p/kg | R3 | R4L | R3 | R4L | R3 | R4L | -O4L |
| 24/08/2024 | 502.2 | 503.2 | 501.2 | 503.8 | 493.1 | 492.2 | 384.7 |
| 31/08/2024 | 504.6 | 507.1 | 498.7 | 506.6 | 494.4 | 492.6 | 386.4 |
| Change | ▲2 | ▲4 | ▲3 | ▲3 | ▲1 | ▲0 | ▲2 |
| Price in c/kg (Incl VAT) | 619.6 | 622.7 | 618.6 | 622.1 | 607.1 | 604.6 | 474.5 |
Euro Price for the Most Recent Week (€/KG Deadweight excl. VAT)
| Country & Type | 13.08.2022 | 12.08.2023 | 17.08.2024 |
| EU + Y Bulls | € 4.97 | € 4.78 | € 5.10 |
| IE + Steers | € 4.80 | € 4.66 | € 5.02 |
| UK + Steers | € 5.18 | € 5.33 | € 5.80 |
Live Cattle Exports 19th August
Sheep Update
IFA Sheep Chairman Adrian Gallagher said lamb prices remain steady but higher prices are becoming a lot easier to negotiate with processors. He said factories are paying prices up to 20c/kg above quotes to secure lambs this week. Prices are ranging from €7.30kg to €7.60kg on weights to 22kg with higher deals for groups and larger lots. He said there is no surge of lambs coming through the system as total spring lamb throughput is back 77,517 head to date with overall throughput back over 185,000 head. He said it’s a critical time of the year for sheep farmers and factories must return strong viable price to reflect production costs on farms and to ensure store lamb buyers remain active in marts. Adrian Gallagher said factories are very anxious for lambs and farmers should sell hard as they become fit.
Lamb Price Update 06/09/2024
Spring Lamb €7.30kg/7.60kg. Weights to 22kg. Higher deals groups/larger lots. Ewes €4.00/4.40/kg.
Supply Figures as Reported by DAFM – WK 35 (01.09.2024)
| Animal | Figure | Change | YTD | YTD Change |
| Lambs/Hoggets | 685 | ▲306 | 895926 | ▼-83,702 |
| Spring Lambs | 51103 | ▲2,154 | 627890 | ▼-77,516 |
| Ewes and Rams | 7852 | ▼-274 | 176302 | ▼-24,646 |
| Light Lambs | 0 | ▼-2 | 105 | ▼-25 |
| TOTAL | 59640 | ▲2,184 | 1700223 | ▼-185,889 |
Official Irish Prices as Reported by DAFM – WK 35 (01.09.2024)
| c/kg (Incl. VAT) | This week | Change prev. wk | 2023 | Change prev. yr |
| National Avg Price | 861.14 | ▼-1 | 675.73 | ▲99 |
| YTD Avg | 733.19 | ▼-2 | 624.81 | ▲113 |
Official GB Prices as Reported by AHDB
| R3L | Overall SQQ* | Type of lamb | |
| 24/08/2024 | 667.1 | 665.5 | New season Lamb |
| 31/08/2024 | 665.3 | 663.5 | New season Lamb |
| Change | ▼-2 | ▼-2 | |
| Price in c/kg (Incl VAT) | 816.9 | 814.7 | 1 |
Live Sheep Exports 30th June
